Derivatives: Regulatory roulette - December 2013
Global entities scrambling to comply with the CFTC's latest cross-border pronouncements wish for regulatory certainty, but the best course of action in the meantime is prudent decision making.

Stress testing: Failures on the horizon? - November 2013
Regulators released capital stress testing guidance that continues to raise the bar for large firms and signals that more failing grades are likely in the future.

Joint CFPB-State Supervision: No one is below the radar - November 2013
The CFPB-State Supervisory Coordination Framework coordinates federal and state supervision and enforcement activities for entities subject to supervision by both the CFPB and state financial regulators.

EU bonus cap to take effect January 1, 2014 - July 2013
This Regulatory Brief describes the EU bonus cap which has been moving its way through the EU legislative process as part of CRD IV (implementing Basel III in Europe) for much of this year.

Derivatives: Cross-border at the cross roads - June 2013With less than one month to go before expiration of the Commodity Futures Trading Commission’s cross-border relief, anxiety is growing among global derivatives market participants.

European regulatory outlook - June 2013This Regulatory Brief provides our view of the main developments to expect in key European regulatory areas.

More Scrutiny for Financial Market Utilities - May 2013
During the financial crisis, global regulators recognized that Financial Market Utilities serve a critical role by reducing risk for their participants and counterparts, but as a result they can potentially transmit risk throughout the financial system.

The evolution of model risk management - May 2013
This A Closer Look discusses what the new model risk management guidance means holistically for banks and provides a high-level roadmap for evolving the model risk management function.

Resolution Planning – New guidance, more time, no specificity - April 2013This Regulatory Brief analyzes the new guidance’s key points, and offers our view that further written regulatory detail is unlikely to be provided in the near term because of the guidance’s link to the Too Big To Fail debate in Washington and because of lack of agreement between the regulators.

Bonus cap proposal advances in the EU - March 2013
The EU’s proposal to cap bankers’ bonuses as part of CRDIV – the EU’s Basel III implementation – advanced on March 5, 2013. EU Banks should now be planning for the consequences of a January 1, 2014 implementation date.

Hearing provides insight on regulatory timetable: But uncertainty remains the norm - February 2013
On February 14, 2013, the Senate Banking Committee held the first of what are likely to be many Congressional oversight hearings on the continued implementation of the Dodd-Frank Act during the new 113th Congress. The hearing provided a useful recap of status and more importantly gave us a glimpse into the regulatory timetable.

Enhanced Internal Audit Standards - February 2013
On January 23, 2013, the Board of Governors of the Federal Reserve System issued the Supplemental Policy Statement on the Internal Audit Function and its Outsourcing to the Officers in Charge of Supervision at each Federal Reserve Bank.

Being better informed - July 2015As we emerge out the other side of a heatwave, with the hottest day on record in June financial services issues again dominate newspaper front pages as the Greece crisis, and potential Grexit, became more urgent issues that could impact the daily lives of the general public as well as bankers and those focused on financial services regulation. After a Greek “no” vote in the recent referendum the future remains unclear.

Shortening the settlement cycle: the move to T+2 - June 2015
As the industry moves through the phases of the T+2 migration effort, the ISC will continue to engage with regulators and with organizations on the industry’s progress and next steps.

Being better informed – March 2015This month's publication focuses on the following: EC launches CMU project, ESMA reacts to budget deficit, HMT grants FPC powers of direction, and FCA is unhappy with wholesale competition. The feature article looks at the rationale for the CMU and the implications for firms.

Regulatory Reform Review: An Asian perspective – January 2015This publication focuses on the following topics: FSIB has provided guidance on extending the regulations on resolution regimes and resolution planning to insurers, firms that hold client assets and financial market infrastructures; US and European regulators are pushing further in establishing a sound resolution regime for banks; Indonesia and China have unveiled plans to introduce deposit insurance schemes; The MAS consults on revisions to Notice 610 and 1003; and The HKMA has announced its outcome of the FX investigation on Hong Kong banks.

Being better informed – January 2015This month's publication focuses on the following: BCBS reviews standardized credit and market risk, EIOPA releases 16 consultations on Solvency II, and FCA extends regulation of benchmarks. We have two feature articles this month, one looking at ESMA's latest MiFID II consultation and the other on the role of climate change in the FS market.

2014 FFIEC manual updates – January 2015
A summary of the substantive changes to the 11 sections of the FFIEC manual that received significant updates.

Top Insurance Industry Issues in 2015 – January 2015
The insurance industry is facing once-in-a-generation disruption. We discuss the challenges and opportunities confronting insurers, and provides insight on how to adapt to change.

Being better informed – December 2014This month's publication focuses on the TLAC proposal for G-SIBS, changes to EMIR reporting requirements, KIDs for PRIIPs, and AIFMD passport for third countries. The feature article focuses on remuneration regulation.

Impact of bank structural reforms in Europe – November 2014
This study was commissioned by the Association of the Financial Markets in Europe (AFME) and expands the evidence available to policy makers as they consider the further policy development on the requirement for and specification of structural reforms.

Being better informed – November 2014This month's publication focuses on the results of ECB's stress test, clarifications by EC on the contributions to resolution funds and recommendations by the IAIS on basic capital requirements for G-SIIs. The feature articles look at EMIR reporting and the competition remit of the FCA.

Regulatory Reform Review: An Asian perspective – November 2014This publication focuses on the following: US finalized rule to strengthen liquidity positions; updates from the FCA MiFID II Conference 2014 on the implementation of MiFID II requirements; the FSB's study of the feasibility of various options for aggregating OTC derivatives trade repository data; and anticipated challenges arising from the Cross-Border Offering of CIS in Singapore, Thailand and Malaysia.

Being better informed – October 2014This month’s feature article focuses on changes to the PRA’s approach in supervising international (non-EU) banks – in particular when the PRA will require the bank to establish a UK subsidiary rather than using a branch structure.

How we can help asset managers – October 2014
PwC can help address regulatory compliance issues and manage regulatory risk effectively. Our asset management regulatory team, a part of the firm’s national financial services regulatory practice, is comprised of experienced professionals with diverse backgrounds in the asset management industry.

Being better informed – September 2014
This month's publication focuses on the following: HMT and PRA consult on Solvency II implementation; UCITS V published in Official Journal; Progress report on ESAs; and ESRB and Payment Accounts Directive published in Official Journal. The feature article looks at the role of social media and how firms and regulators need to adapt their processes to generate good customer outcomes.

Being better informed – August 2014
This month's publication focuses on the following: HMT, PRA and FCA consultations on BRRD; FCA looks at competition in the cash savings market; PRA and FCA propose new remuneration and approved persons regimes; and AIFMD transitional period ends. We have two feature articles this month, one looking at MiFID II dealing commissions and the other focusing on the continuing benchmark reform for asset managers and investment banks.

Being better informed – July 2014
This month's publication focuses on the following: What firms should be doing now for MiFID II; HMT provides clarity on ring-fenced banks; and Solvency II steams ahead.

Being better informed – June 2014
This issue includes: publication of MiFID consultation and discussion paper by ESMA, the new Banking Standards Review Council finalization, preparation for Solvency II by EIOPA and PRA and FCA's focus on asset managers' fees.

Regulatory Reform Review: An Asian perspective – May 2014This publication focuses on the IMF's policy paper on global liquidity and issues for surveillance after the global financial crisis; The ECB's draft regulation on supervisory fees on all Eurozone banks to recover the cost of supervising them under the Single Supervisory Mechanism; and IOSCO's consultation report on good practices for reducing reliance on CRAs in asset management.

Basel III and beyond - stretched to the limit – May 2014This publication looks at the challenges presented by the Net Stable Funding Ratio (NSFR), how they interact with other incoming changes, and how banks will manage the impact on funding costs, maturity transformation and other fundamental aspects of the business model.

Being better informed – May 2014
This month we report on details of the European Parliament's "super Tuesday" where texts for Banking Union, MiFID II, PRIIPs and UCITS V were agreed; EIOPA, EBA and Bank of England reveal more information on this year's stress testing methodology for EU banks and insurers; European Commission consults on what are FX forward transactions; EIOPA and PRA consult on many of the details for Solvency II; and FCA took over regulating consumer credit firms from 1 April.

What to expect from Banking Union – May 2014
An overview of Banking Union legislation adopted by the European Parliament on April 15, 2004 including the Single Resolution Mechanism (SRM) and the Bank Recovery and Resolution Directive (BRRD).

Stress testing: Temperature check – April 2014The results of this survey are based on six of the eight banks participating in the 2014 Prudential Regulation Authority Concurrent Stress Test and describe the state of play at the end of April 2014.

Regulatory Reform Review: An Asian perspective – April 2014This publication focuses on the BCBS' progress report on implementation of the Basel regulatory framework across member jurisdictions; a letter from the Financial Stability Board chair to the G20 Ministers and Governors on financial reforms; and BCBS' final standard for calculating regulatory capital for banks' exposures to Central Counterparties (CCPs).

Regulatory Reform Review: An Asian perspective – March 2014This publications features the following: ESMA's first report on trends, risks and vulnerabilities; AML and financial crime; BCBS finalized standards; EBA's final guidelines for the calculation of the discount rate for variable remuneration and clarifying how it should be applied; and a keynote address by EIOPA Chairman.

Being better informed – March 2014This month we report on a number of important regulatory developments that will reshape the financial services landscape, including the FCA's finalized conduct of business rules for consumer credit firms and MiFID II.

Asset Management 2020: A Brave New World – February 2014
The asset management industry stands on the edge of a number of fundamental shifts that will shape the future of the industry. This report sets out how the operating landscape for asset managers will change by 2020 and explains how asset managers can prepare for the challenges ahead and turn them into competitive advantages.

Regulatory Reform Review: An Asian perspective – February 2014
Featuring a special contribution from PwC Singapore’s US Regulatory and FATCA Leader, Michael Brevetta, on the OECD’s Common Reporting Standards and recent FATCA developments; an excerpt of PwC Singapore’s Budget Commentary 2014 and Asset Management 2020: A Brave New World; and updates on the outcomes from the FATF Plenary Meeting in Paris held over 12 to 14 February 2014.

The EU's Bank Recovery & Resolution Directive – February 2014
This paper explains why the BRRD is such an important milestone for Europe, within the context of the wider regulatory reforms taking place in the industry, and also highlights controversial and concerning aspects of the deal.

Being better informed – February 2014
A monthly update on global regulatory issues, the regulatory agenda was a bit quieter in January than in recent months, but international and EU regulators issued some significant proposals to advance the long-running G20 initiatives.

Passing the stress test – PwC Survey on regulatory stress testing in banks – January 2014
Regulatory stress testing is moving to the forefront of an ongoing public debate about how banks restore trust and improve their financial health. To assess our client’s capabilities in this process we surveyed 24 of the leading financial institutions from 12 different countries across 5 continents to gauge their level of preparedness for the onset of regulatory stress testing.

A roadmap of the European Regulatory Agenda from PwC’s FS Regulatory Brief: A European Outlook

A commentary on the EU and G20’s agenda for 2014 and the state-of-play on key reform initiatives

Updates on the EC’s endorsement of BCBS technical documents in relation to the Basel III regulatory framework and the respective amendments made in the final form

An excerpt from PwC’s 17th Annual Global CEO Survey with statistics on the banking industry’s forecasted big bets and threats

Being better informed – January 2014
A monthly update on global regulatory issues, this month we report on a number of important regulatory developments that will reshape the financial services landscape, including the UK’s newly minted Banking Reform Act and the US Volcker Rule.

End of year review of financial regulations that we've been tracking, impact on the region and what to expect in 2014

PwC's report "Deleverage Take 2" on capital shortfall that European banks are facing through combined Basel III requirements and an analysis of the potential requirements for European banks to raise capital

A timetable documenting the progress of all US regulations throughout 2013 and going forward in 2014

Excerpt from PwC’s regulatory brief, “Volcker Shrugged”, on the rule’s delivery and key changes from proposal to final rule

This paper discusses the possible affects of the onset of a single supervisory mechanism for the financial institutions within the Eurozone- most of which appear to be in a state of flux, with little guidance on what to expect or how best to prepare. PwC surveyed 30 of the leading financial institutions with operations in Europe to gauge their level of preparedness for a new shock or crisis in the Eurozone.

The BCBS updated list of G-SIBs and its second consultative document on the fundamental review of capital requirements for the trading book

Coverage on the ACGA's 13th Annual Conference in Seoul with the theme “Corporate Sustainability and Responsible Investment in North Asia”

CPSS and IOSCO's consultative report on the public quantitative disclosure standards for central counterparties, proposing disclosures that are intended to support the objectives of enabling stakeholders, including authorities, participants and the public

The FSB's Global Shadow Banking Monitoring 2013 report using end-2012 data from 25 jurisdictions and the euro area as a whole

EU financial services lawmakers face a staggering autumn workload with twenty nine legal texts currently being negotiated or expected to be tabled by the European Commission (EC) in the near future. To make any progress, legislators will need to prioritize but agreeing these priorities may not be straightforward in all areas. If some dossiers fail to make the priority list, we could end up with in incomplete regulatory regimes, and possibly market distortion, for years to come.

Regulatory Reform Review: An Asian perspective – July 2013
This series of documents provide updates covering regulatory reforms in the global landscape. Created by our Singapore regulatory team on a monthly basis, we hope you will find this useful in providing insights and our views around the various regulatory reforms impacting your territories.

Insurance Banana Skins 2013 – July 2013
The July 2013 issue provides readers with a comprehensive map of the G20’s July 2013 meeting in Russia and their plans for the year, a write-up on our discussion with Professor Karel Van Hulle, former Head of the EC’s Insurance and Pensions Unit, on Solvency II and the future of the insurance industry, an illustrative guide to the effective dates under EMIR and estimated roll-out progression of the law, and a special report by PwC India on simplified norms for foreign portfolio investors.

Conflict minerals survey: How companies are preparing - July 2013In the spring of 2013, PwC surveyed companies to determine their level of understanding of the conflict minerals rule and their progress towards compliance. The results provide an early benchmark for companies working through their compliance efforts.

Regulatory Reform Review: An Asian perspective – June 2013
The June 2013 issue marks the official launch of the publication on the global platform, and also acts as a mid-year review for the series. This edition contains a special commentary by PwC Singapore’s Asia Financial Services Leader, Dominic Nixon, on regulatory reform, its impact on your business and strategies to consider; our experts’ views on what’s next for your firm; and a special feature on key regulatory themes with timelines and cross-border comparative analyses.

Next stop, Vilnius: what FS reforms are coming down the tracks in Europe

Are you still relying on credit ratings?

It’s raining RTSs

Regulatory Reform Review: An Asian perspective – May 2013
This series of documents provide updates covering regulatory reforms in the global landscape. Created by our Singapore regulatory team on a monthly basis, we hope you will find this useful in providing insights and our views around the various regulatory reforms impacting your territories.

CFPB Mortgage Servicing Standards: Analysis for RESPA (Reg. X) and TILA (Reg, Z) final rules - February 2013
In this joint Point of View from our Consumer Finance & Financial Services Regulatory Group, we provides our insights into key provisions of the new servicing rules both under RESPA and under TILA, including the relationships between the final rules and the rules as proposed. We also provide our perspectives on the operational impacts servicers face integrating compliance with each new provision into their servicing operations.

CFPB “Ability-to-Repay” standard - January 2013
On January 10, 2013, the CFPB issued its much anticipated final “Ability-to-Repay” rule. Lenders have 12 months to implement the new requirements, which become effective January 10, 2014. To provide some insights as to the Ability-to-Repay rule, we summarize the key provisions of the rule, identify some possible impacts of those provisions; and describe some specific steps lenders can take to successfully adapt to the new rule.

Former SEC Commissioner Troy Paredes joins PwC – April 2014We are pleased to announce that Troy A. Paredes, former SEC Commissioner, has joined PwC as a senior strategy and policy advisor in our Financial Services Regulatory Practice.